Do You Have What It Takes To Manage Your Money?

Do you have goals, dreams, and ambitions? Chances are you do, which brings me to my next question. Do you have a budget? If you don’t have a budget then the chances of you reaching those goals, dreams, and ambitions are smaller than if you had a financial road map to follow. Unfortunately, too many people attach negative connotations and misconceptions to what budgeting actually means for you.
A budget is only a plan that aids you in reaching your goals by helping you track your expenses dollar for dollar. That’s it. It’s not a constraint, although some people use it as one. As long as YOU decide what to do with your money ON PURPOSE, that’s what matters. If you want to budget $200 a week for entertainment, that’s your prerogative.

I think a budget is an amazing tool that helps you get your butt in gear where your money is concerned. After all, it’s better to know where your money is going, rather than wondering where it went. From experience I know that when you watch it leave, you end up having nothing of real value to show for it. When your purchases are planned around your goals, instead of your goals planned around your purchases, you get much further in life—even if only financially.

Some people say a budget is not for everyone, but I couldn’t disagree more. I think that is just an excuse that scared people use in order to justify not using one. I think it would be more accurate to say that one budget doesn’t fit all, but there is a budget for everyone. Could you imagine an architect saying, “Oh we don’t need a plan, it’s not for everybody, just start building the house.” Chances are you would end up moving into a house that had more than just a few flaws because of it. Don’t leave it to chance, draft a plan to route your future.

I personally favor a zero-based budget, but that might not be right for you. This is why I have launched a FREE 31 day budgeting challenge over at Enemy of Debt calledManage Your Money. My goal is to introduce people to different ways of budgeting, so that they can win with money. This challenge features Pocketsmith, a calendar-based budgeting system, that offers a unique approach to budgeting. I would like to invite you all to head over and sign up for this challenge!

It’s going to be fun, and besides learning how to better manage your money, the best part will be winning some great prizes. What do you have to lose, it’s FREE? A budget is simply a plan, and everyone could use one of those. Please sign up to participate by following the directions in the sign up post, and win some AWESOME prizes along the way.

This is a guest post by Brad Chaffee from Enemy of Debt, “Where Behavior Meets Reality.” His burning passion and calling in life is too assist and motivate people to learn the benefits of debt freedom. If you enjoyed this post please head over to Enemy of Debt to get your weekly dose of motivation. EmailRSS

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Glen Craig is married and the father to four children that he spends the day chasing as a stay-at-home-dad. He took an interest in personal finance when he realized most of his paycheck was going toward credit card bills. Since then he's eliminated his credit card debt and started on a journey towards financial freedom.

Haha, point taken! You are definitely an exception to the rule then, and I can honestly say that I don’t want you to do anything to ruin your awesome savings habits. As you know you are an exception to that rule as well, as the average person has nothing saved up.

Keep saving that money!
.-= Brad Chaffee´s last blog ..Feeling Like You Are Bankrupt, Is Different Than Actually Being Bankrupt =-.

Great comparison of the budget to an architect building a house. I’ll have to check out the 31-day challenge, I’m a bit behind on that one.
.-= Jason @ MyMoneyMinute´s last blog ..Wine On A Budget: Oak Creek =-.

I really love to try this one, I’ve been experimenting lately and so far none still works for me. I know it doesn’t take overnight to master your finances but at least knowing there’s a system that works for you, everything will follow. I just needed a method I can easily master. Thanks.

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